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Businesses are in dilemma responding to increasing GST notices from different state departments, as most companies handle taxation issues centrally. Especially service-based businesses face barriers to differentiation as per each state. These letters from various states request specific documents and representations as part of tax scrutiny. Furthermore, the frequency of such notices has dramatically increased […]
For the financial year 2022-23 from 31st July 2023 to 31st August 2023, the Tax Advocates Association of Gujarat has urged the Finance Ministry to prolong the last date of ITR Filing. Before the Union Finance Minister Nirmala Sitharaman, CBDT Chairman, and Principal Chief Commissioner of Income Tax (PCCIT) of Gujarat the representation was addressed. […]
Various prominent social media influencers would come under investigation from the income tax department concerning tax fraud, as revealed in the list. Although the identities of these people are kept a secret, it is clear that tax officials are taking action against influencer tax avoidance. To prevent any legal repercussions, it is essential for social […]
The GST evasion investigation agency shall finish its probe in 30 insurance companies. The Directorate General of GST Intelligence (DGGI) would have finished the investigation in 15 of them fetching the ITC differences to the tune of 3500 cr. The same would be under the procedure of sending the notices to the left 15 people […]
The Kolkata Bench of Income Tax Appellate has released an order for the reassessment regarding a case where there was an error found in Tax Deducted at Source (TDS) reported in Form 26AS and the profit and loss account. This difference occurred because of inadequate required evidence. Regarding the AY 2015-16, the assessee filed an […]
Sanjay Malhotra, Revenue Secretary in an Interview said that the due date for filing income tax returns (ITRs) is July 31, 2023, and the government has no intention of extending it. As of July 2023, the Income Tax Department has already claimed that more than 2 crore ITRs had been filed. As per the announcement […]
30th June 2023 will be the due date to link the Aadhaar and PAN and no extensions would get provided by the government. If the PAN does not get linked to the Aadhaar then the same shall become inoperative from 1st July 2023. Rs 1000 would be required to be deployed by the individual via […]
The GSTR-3B tab on the GST Portal will only be accessed after GSTR-1 filing. The reason behind this is- GSTR-3B is a summary return as stated by the GSTR-1 filing details. In case you missed filing GSTR-1, GST Portal will not grant you access to the necessary information to generate GSTR-3B. This move has been […]
The Income Tax Department, under the Central Board of Direct Taxes (CBDT), has started the verification of the reporting entities. The Income Tax Department actively encourages taxpayers to comply voluntarily. To facilitate this, the department obtains financial transaction information from Reporting Entities such as banks, currency dealers, sub-registrars, and others. The Income Tax Department requires […]
